Digital Pathology Market Overview
Market Research Future (MRFR) studied the global digital pathology market through the review period till 2023. By 2023, the worldwide digital pathology market is expected to rise at 13.04% CAGR. The digital pathology market is expected to touch USD 8.30 Bn between 2018 and 2023. The availability of digital pathology expertise and their growing demand in the healthcare sector can benefit the market.
The impact of COVID 19 pandemic on the digital pathology market is elaborated in the report. Approval of FDA for new digital diagnostic solutions and the need for services that offer remote access to evaluate patients are influenced by the pandemic. These factors and other associated issues are studied by MRFR analysts for the digital pathology market. Automation of operations in the medical care domain and adoption of new pathology technologies by diagnostics are identified as potential growth inducers for the market. The availability of several types of affordable solutions and their application in emerging diagnostic centers can offer growth scopes to new investors entering the market. However, high installation price and strict regulatory affairs can hinder the market expansion in the review tenure.
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Digital Pathology Market Segment Overview
The segment study of the digital pathology market is studied by product, application, end-user, and type.
The type-based segments of the digital pathology market are animal pathology and human pathology. The growing prevalence of chronic malaises creating the need for extensive research on human pathology can cause the market to earn about USD 5.47 Bn by 2023. According to MRFR study, the human pathology segment can thrive, while the animal pathology segment is expected to gain momentum by 2023.
The application-based segments of the digital pathology market are drug discovery, disease diagnosis, telemedicine, and mhealth. The growing significance of early diagnosis can drive demand for digital detection solutions. The digital detection segment can generate revenue of about USD 2.65 Bn. Telemedicine and drug discovery are observed to gain popularity that can contribute to the market expansion in the years ahead.
The end-user-based segments of the digital pathology market are research centers and academic institutes, hospitals and clinics, and diagnostic centers. Escalation in funding for research projects and increase in establishment of academic institutes to study digital pathology can add to the market rise. The research centers and academic institutes segment can thrive in the approaching years. The rise in count of diagnostic centers and upgradation of technologies used in pathological studies can strengthen the market. The research centers and academic segment can earn value of about USD 3.77 Bn by 2023.
The product-based segments of the digital pathology market are storage, software, and hardware. The hardware segment is expected to hold a pivotal role in the market upsurge. The market share is likely to earn valuation of USD 6.03 Bn by 2023. Tech companies inclined towards designing of new, effective software can contribute to the market rise.
Digital Pathology Market Regional Analysis
The rise in cases of chronic illnesses and hike in medical spending driving the propensity of humans to embrace new pathology technologies that offer greater convenience and accuracy of results. The surge in pathological research, along with aforementioned causes are expected to support expansion of the digital pathology market in North America.
The presence of reputed dealers of digital pathology in EU, such as; Definiens, and Leica Biosystems among others, can contribute to the market expansion in the near future. In APAC, the rise in adoption of digital pathology, backed by the existence of effective network and connectivity solutions, can support the regional market growth. Medical tourism can add to the digital pathology market rise in Thailand, India, and Singapore. The digital pathology market in MEA can witness substantial growth due to rise in health-related consciousness among people.
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Digital Pathology Market Competitive Dashboard
The establishment of new players in the digital pathology industry and expansion of product portfolio of existing players are expected to play critical role in the market. The global digital pathology market is expected to stay decentralized and highly competitive, global marketers are identified to expand their presence. Cooperation, alliance, and product launch by these reputed players are listed in the report. MRFR listed important players in the worldwide digital pathology market. They are; Mikroscan Technologies, Inc. (U.S.), microDimensions GmbH (Germany), Q2 Solutions (U.S.), GE Healthcare (UK), Omnyx, LLC (U.S.), Philips Healthcare (U.S.), ViewsIQ Inc. (Canada), Huron Digital Pathology Inc. (Canada), 3DHISTECH Ltd (Hungary), Xifin Inc. (U.S.), Apollo Enterprise Imaging Corp. (U.S.), and Definiens (Germany) among others.
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